STREAMPLAY STUDIO LIMITED — Interim / Quarterly Report 2007

Jul 25, 2007

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Gippsland Limited

31 004 766 376 30 June 2007

ABN Quarter ended ("current quarter")

Year to date

Current quarter $A'000

Consolidated statement of cash flows

Cash flows related to operating activities

$A'000Cash flows related to operating activities	(12.months)$A'000
1.1Receipts from product sales and related debtors
1.2Payments for (a) exploration and evaluation(382)	(1,751)
(b) development(32)	(285)
(c) production
(d) administration(558)1.3Dividends received	(1,915)
1.4Interest and other items of a similar nature
received9	122
1.5Interest and other costs of finance paid
1.6Income taxes paid
1.7Other (provide details if material)
Net Operating Cash Flows(963)	(3,829)
Cash flows related to investing activities
1.8Payment for purchases of: (a)prospects
(b)equity investments
(c)other fixed assets(46)	(216)
1.9Proceeds from sale of:(a)prospects
(b)equity investments(c)other fixed assets
1.10Loans to other entities
1.11Loans repaid by other entities
1.12Other (provide details if material)
Net investing cash flows(46)	(216)
1.13Total operating and investing cash flows (carried

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows
	(brought forward)	(1,009)	(4,045)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	2,896	2,897
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings
1.18	Dividends paid
1.19	Other (provide details if material)	(145)	(145)
	Net financing cash flows	2,751	2,752
	Net increase (decrease) in cash held	1,742	(1,293)
1.20	Cash at beginning of quarter/year to date	899	3,934
1.21	Exchange rate adjustments to item 1.20	(26)	(26)
1.22	Cash at end of quarter	2,615	2,615

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	121
1.24	Aggregate amount of loans to the parties included in item 1.10	Nil

1.25 Explanation necessary for an understanding of the transactions

Payments of consulting fees and directors fees to directors and director related entities

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

None

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

None

+ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available$A'000	Amount used$A'000
3.1	Loan facilities	-	-
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

	Total	502
4.2	Development	72
4.1	Exploration and evaluation	430
		$A'000

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	320	449
5.2	Deposits at call	2,295	450
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	2,615	899

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsed
6.2	Interests in miningtenements acquired orincreased

+ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issuepricepersecurity (see note3) (cents)	Amount paid up persecurity (see note 3)(cents)
7.1	Preference+securities(description)
7.2	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,redemptions
7.3	+Ordinarysecurities	259,524,592	259,524,592
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks	26,666,666	26,666,666
7.5	+Convertibledebt securities(description)
7.6	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted
7.7	OptionsGIPO	43,732,39310,000,0004,500,00025,000,000	43,732,393---	Exercise price9 cents4 UK pence15 cents13.5 cents	Expiry date31/12/0731/12/0731/12/0726/05/12
7.8	Issued duringquarter
7.9	Exercised duringquarter
7.10	Expired duringquarter
7.11	Debentures(totals only)
7.12	Unsecurednotes (totalsonly)

+ See chapter 19 for defined terms.

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• 2 This statement does give a true and fair view of the matters disclosed.

Company Secretary

Sign here: Date: .26 July 2007..

Print name: Rowan Caren

Notes

• 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities*.*
• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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+ See chapter 19 for defined terms.